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Social Entrepreneurship and Medical Entrepreneurship: Lessons from Nigeria

In: Medical Entrepreneurship

Author

Listed:
  • Ik Muo

    (Olabisi Onabanjo University)

Abstract

This is a qualitative descriptive study that undertook a case study of Professor Nwosu and the Apex Specialist Hospital, which he founded in 1981 at Igbo-Ukwu, a rural community in Anambra state. Open-ended interviews conducted by the author were the method of data collection. The study found that social and medical entrepreneurship (SME) is similar in many regards to conventional entrepreneurship; that entrepreneurial alertness, earlier identification of opportunities and innovativeness are essential; and that the social/medical entrepreneur need not go it but should attract likeminded fellows, harness other talents and effectively deploy OPM (other peoples’ money) in pursuit of dreams. The study also found that the government has not played a much positive role in support of SMEs and that the future is bright for that genre of entrepreneurship. It thus recommended that the government create an enabling environment (physical and policy) as well as support SMEs; players in this field should ‘dig in’ avoid the temptation of going it alone and design an effective succession model by bringing in others (investors and talent) on board, continuously alert to entrepreneurial opportunities and continuously update their offerings.

Suggested Citation

  • Ik Muo, 2023. "Social Entrepreneurship and Medical Entrepreneurship: Lessons from Nigeria," Springer Books, in: Lukman Raimi & Ibrahim Adekunle Oreagba (ed.), Medical Entrepreneurship, chapter 0, pages 167-182, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-6696-5_11
    DOI: 10.1007/978-981-19-6696-5_11
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